ArrowMark Financial Corp. Declares Monthly Dividend of $0.15 (NASDAQ:BANX)

ArrowMark Financial Corp. (NASDAQ:BANX) declared a monthly dividend on Friday, June 12th. Investors of record on Tuesday, June 23rd will be given a dividend of 0.15 per share by the investment management company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 9.3%. The ex-dividend date is Tuesday, June 23rd.

ArrowMark Financial Stock Down 0.2%

NASDAQ BANX traded down $0.03 during trading on Friday, reaching $19.38. 22,585 shares of the company’s stock were exchanged, compared to its average volume of 52,677. The company has a 50 day moving average price of $19.61 and a two-hundred day moving average price of $20.38. ArrowMark Financial has a 1 year low of $18.45 and a 1 year high of $23.67.

Institutional Investors Weigh In On ArrowMark Financial

Institutional investors have recently modified their holdings of the company. Private Advisor Group LLC purchased a new position in shares of ArrowMark Financial in the 3rd quarter worth $205,000. Marshall Wace LLP purchased a new position in ArrowMark Financial in the second quarter valued at about $386,000. Osaic Holdings Inc. raised its position in ArrowMark Financial by 26.5% in the second quarter. Osaic Holdings Inc. now owns 22,721 shares of the investment management company’s stock valued at $476,000 after purchasing an additional 4,762 shares during the period. Oppenheimer & Co. Inc. raised its position in ArrowMark Financial by 39.3% in the third quarter. Oppenheimer & Co. Inc. now owns 22,293 shares of the investment management company’s stock valued at $489,000 after purchasing an additional 6,284 shares during the period. Finally, Everstar Asset Management LLC raised its position in ArrowMark Financial by 2.5% in the first quarter. Everstar Asset Management LLC now owns 47,345 shares of the investment management company’s stock valued at $902,000 after purchasing an additional 1,153 shares during the period. Hedge funds and other institutional investors own 24.93% of the company’s stock.

About ArrowMark Financial

ArrowMark Financial Corporation (NASDAQ: BANX) is an asset management firm that provides investment advisory services and portfolio management solutions to institutional and individual clients. Headquartered in Minneapolis, with additional offices in Stamford, Connecticut, the company offers tailored separate-account management alongside a suite of sponsored investment products. Its advisory platform spans a broad range of equity, fixed‐income and multi‐asset strategies designed to meet diverse risk and return objectives.

Through its managed accounts business, ArrowMark delivers customized portfolio solutions covering traditional and alternative asset classes.